Now, you may disagree with Agilebits' methods of assessing those qualities or the particular trade-off they're choosing to make here, but you can't claim "security" in the abstract to justify a change without articulating its costs and benefits in more-concrete terms.
I would much rather have this scenario (and give 1Password access to my full Dropbox) vs having all of my data on AgileBits servers and paying for an account for families or yearly for each individual. If 1Password went to requiring vaults to be in a specific, app-permissed folder, it would break my workflows completely.
Incidentally, these sorts of access concerns are why I use KeePass over Dropbox instead of 1Password or other password managers with a hosted component.
(Caveat: I use Keepass2Android, which ironically DOES support limiting access to the Apps folder in Dropbox.)
Full disclosure: I'm a satisfied 1P user and don't really care about what kind of Dropbox access they use, although I'm open to persuasion on the second part.
Wouldn't the synced 1Pass passwords in DB be in an encrypted blob? I would assume that if someone compromised my DB password and got full access, they wouldn't be able to access the 1Pass passwords without my 1Pass Master Password. Is that not the case?
The dispute is about 1P's ongoing access to DB after you grant it permission to connect. The claim is that giving 1P full access is an increased risk.
The only way 1P's access to DB is a risk at all is if someone got ahold of 1P's access token. The only way to do that (at least on iOS) would be to exploit 1P somehow. But every time 1P runs, I authenticate, which would give exploit code access to all my passwords, including my DB password.
I don't see a scenario where an attacker is able to access 1P's token but not able to access my DB password.